Bearish flow noted in Zillow (Z) with 3,740 puts trading, or 2x expected. Most active are Feb-25 76 puts and Feb-25 78 calls, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 3.56, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 7th.
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